Author: morgan

Bankruptcy (Amendment) Bill 2015

By Rosenna Mak In a previous post in November 2015 entitled “Bankruptcy – The Unconstitutionality of the Discharge Provisions”, we referred to a draft Bankruptcy (Amendment) Bill 2015 being put before LegCo for the purpose of addressing the CFA’s ruling

Cleaning Up Corporate Structures

As a business grows, there is a tendency for its corporate structure to grow with it. Over time, as the business matures, that structure may need to change to be more responsive to the ongoing needs of the business. Every

Updates to the Winding-up Provisions of C(WUMP)O – An Opportunity Lost?

By Stephen Briscoe The Administration has now posted its first substantive response to issues raised in front of the LegCo Bills Committee back in November 2015. Here is a link to the response, but in truth it paints quite a dismal picture.

Costs Orders Against Liquidators – Or Not!

By Stephen Briscoe The application in this case was to join a funder as a party to an action commenced by the liquidators, the purpose being to make the funder and the liquidators jointly and severally liable for the costs

Bankruptcy – The Unconstitutionality of the Discharge Provisions

By Rosenna Mak The Hong Kong Court of Final Appeal (“CFA”) recently upheld the decision of the Court of Appeal and ruled that s.30A(10)(a) of the Bankruptcy Ordinance (“BO”) is unconstitutional. To recap; s.30A(10)(a) of the BO provides that the

C(WUMP)O: The Dark Side

By Stephen Briscoe Our previous posts have focused on the proposed changes to Hong Kong’s insolvency regime which are scheduled to come before LegCo in the next few months. This post is going to look at the “darker side”, (no,

Draft CVL Bill Open to Abuse

By Stephen Briscoe The draft bill was put into the public domain on 10 July with an 18 day period for parties to make representations.  The draft bill runs to 77 pages, whilst the draft notes run to another 20

Discharge From Bankruptcy – The Latest

By Rosenna Mak Although we are still waiting for the Court of Final Appeal to hear arguments regarding the constitutionality or otherwise of the discharge provisions contained in s.30A(10)(a) of the Bankruptcy Ordinance, the Administration has already responded to the

Bankruptcy – The Matrimonial Home

By Nichole Chan Whose interests should prevail in bankruptcy: the interests of the bankrupt’s creditors or his/her innocent spouse and dependents?  A recent case before the Hong Kong Court confirmed that, in the majority of cases, it is the former

Draft Changes to HK’s Insolvency Regime – Part V

The 5th article in our series on proposed changes to Hong Kong’s insolvency regime. By Stephen Briscoe Floating Charges At present, if a floating charge is created within 12 months of the commencement of the liquidation it is deemed to